XAUUSD Daily Forecast Sept 17 2014

Outlook in XAUUSD has turned neutral with risk to the downside , resistance comes at the 1242 levels , a failure to hold above the 1242 levels on a daily closing basis could mean a return to the 1231/1225 levels , a cut will resume the whole fall towards the 1200 levels , a halt is likely , but losing the 1200 levels will continue losses towards the 1181 levels ahead of the 1155 levels..

On the upside , resistance comes at the 1242 levels , sustained trading – daily closing – above the 1242 levels will put the pair in recovery mode , but upside gains above the 1242 levels should be limited strongly by the 1272/1296 levels..

In all , as long as resistance 1242 holds on a daily closing basis , outlook in XAUUSD remains on the downside towards the 1200/1180 levels , a clear break above the 1242 levels will bring recovery towards  the 1272/1296 levels before the next fall.

 

XAUUSD Daily Forecast Sept 17 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS